Horizen Mining (Formerly Zencash)

The great thing about crypto is that you could earn some coins simply by lending out your computer’s processor to miners.

Horizen is one of the many altcoins that allows you to do this using a CPU, GPU or an ASIC miner.

As a Zclassic fork, mining it is pretty similar to mining Zclassic, Zcash or Bitcoin as all these cryptopcurrencies are related.

The information provided here is for informational purposes only and should not be seen as investing advice. Our opinions on this site are only that, if you are considering an investment into cryptocurrency or anything we speak about on this site, please advise a trusted financial professional first, before doing so.

What’s Horizen?

This is a blockchain platform and cryptocurrency that was launched in May 2018. Essentially, it’s a fork of Zclassic, which had earlier forked from Zcash.

Zcash forked from Bitcoin originally as well.

Horizen, however, was created to improve the features of its predecessors. 

It delivers anonymous transactions and comes with three more features including Zenchat, Zenpub for publishing and Zenhide for privacy centric users.

Horizen today

Horizen recently made news for all the wrong reasons. 

It fell victim to the 51% attack, basically an attack that involves malicious miners who take control of the coin’s majority hash rate, executing double spends and reorganizing the blockchain.

The coin’s circulating supply is 4.13 million ZEN against a total supply of 21 million coins.

It’s available for trading on major exchanges, including Binance and Bittrex.

Zencash recently rebranded to Horizen.

As of writing, Zencash’s market capitalization stands at $68.7 million.

A unit of the coin was retailing at $13.76.

Horizen's future

The Horizen creators are continuously adding great features to their product. In 2019, they are keen on improving the cryptocurrency’s secure node system and integrate the Dandelion ++ to improve the network’s anonymity.

The price of ZN will largely depend on the performance of the rebranded company.

A Few Mining Tips

Before you delve into the world of mining, it’s important to take into consideration a few mining tips that can enhance your mining experience.

First, make sure your country allows cryptocurrency mining and that the power cost in your area is not too high.

Secondly, you’ll need to get the right equipment for the coin you’re about to mine.

Then, create a wallet where you’ll store the mined coin. It’s advisable to join a mining pool to maximize your profits. Here are a few.

Additionally, get the right software and cooling mechanisms for your mining rigs as they tend to get really hot.

With these tips, you’ll hardly go wrong as far as cryptocurrency mining is concerned.

Where to mine Horizen

ZEN is a Proof of Work coin that uses the Equihash algorithm.

It can be mined by anyone with a graphic card. The coin can also be mined by hardware rigs that support the Equihash concept.

You can simply join a mining pool to start mining ZEN, or you can go it solo by using your computer’s CPU.

Horizen mining difficulty

​Difficulty is a metric that determines how fast or slowly a block should be generated.

For ZEN, the mining difficulty time is 2.5 minutes, meaning that new blocks are created after every 2.5 minutes.

Difficulty maintains the value of the coin by safeguarding it against excess mining.

The coins’ difficulty is 3.4 million according to CoinWarz.com.

Solo Vs Pool mining

In solo mining, you mine cryptocurrency using your own or leased computer hardware. As a solo miner, you get the entire reward the moment you find a solution for the block.

Before you decide to go solo, you’ll need to first calculate the processing power of your computer to see if solo mining is profitable for you.

If you like working as a team, pool mining is for you.

Here, you share your mining power with other miners and together you confirm blockchain transactions for a shared reward.

Solo mining can be profitable if you have a massive mining rig, but pool mining gives you a regular income.

Whether you choose to go solo or to join a pool of miners will solely depend on your preferences and the power of your mining rig.

Mining pools

Now that you can mine ZEN by joining a pool of miner, it’s important to look at different mining pools pick the one that’s most attractive to you.

Fortunately, you can join more than one pool at any given time.

Popular pools include ZenMine Pro, Luckpool, Zhash.pro, Miningspeed, mining pool hub, Tree frog miner and Mine Z Zone. 

Most mining pools charge a small fee of 1%.

Horizen trading

ZEN, the cryptocurrency token of the Horizen platform, is traded in all major exchanges.

As of writing, the coin was trading at $13.66. Given the coin’s circulating supply of 4.9 million ZEN, its market capitalization stands at $68 million.

Wallets for Horizen

If you already have some ZEN coins to your name, you’ll be spoilt for choice when it comes to securing your coins because many companies provide hardware, software and online wallets.

The Zencash website lists the Windows, MacOs, as the official wallets of the ZEN cryptocurrency.

Others include mobile wallets like like Webwallet, Android and the Zenpaper wallet.com Third party wallets include mobile wallets like paytomat, coolwallet and Xeeda

Horizen mining hardware

All rigs designed for Bitcoin can be used with Horizen.

CPU mining

The fact that you can mine ZEN using a CPU makes it open to any miner as all the need is a computer with a basic processor. CPU mining is slow and sometimes unreliable, especially if your computer’s processor is not powerful.

GPU mining

​For GPU miners, they need Nvidia cards with more than 3 GB to get a good profit. AMD cards are a good alternative, although they aren’t efficient for mining ZEN.

The ASIC miner is another option for the quintessential miner. Although ASIC miners are expensive, they bring a good return on investment.

How much ZEN do I earn per day?

The amount of ZEN you earn daily will depend on the kind of rig that you’re running. With an 8-GPU rig made of NVidia 1080 Ti cards, expect to see an average of $10 per day.

The earnings go slightly down when you deduct the cost of electricity.

There are a few factors that help you calculate your daily earnings with ease.

Hash rate

The more powerful your mining rig is, the more coins it will mine. A massive hash power of 6000 H/S, an equivalent of a GPU miner with 8 cards can give you slightly over $10 per day.

With less than ideal hashing power, you can join a pool.

Power

​Some rigs consume more power than others. Remember, more power use translates to lower profits.

Cost

It helps when you know how much you are spending on electricity whenever you start mining. While the cost of power varies from country to country, costly power will mean low profits for the miner.

Pool fee

This is usually a small fee that pools charge miners. It’s mostly in the region of $1.

Hardware costs

Before you buy a mining rig, it’s always good to consider its cost to determine exactly how you‘ll recoup the cost of buying rigs.

Remember, the kind of coin that you decide to mine matters as some coins are more profitable to mine than others.

Conclusion

Most people are earning clean profits by mining Horizen, which is among the most profitable coins to mine.

With a CPU, a GPU or an ASIC miner; you can join them by becoming a Horizen miner.

It’s your turn to make a passive income out of mining. Why not start today?

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